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13 September, 18:08

Hayes Manufacturing Company's accounting records reflect the following inventories Dec. 31, 2018 Dec. 31, 2017 Raw materials inventory $240,000 $200,000 Work in process inventory 190, 000 1 80,000 Finished goods inventory 150,000 140,000 During 2018, $500,000 of raw materials were purchased, direct labor costs amounted to $500,000, and manufacturing overhead incurred was $550,000. Hayes Manufacturing Company's total manufacturing costs incurred in 2018 amounted to Select one: a. $1,510,000. b. $1,750,000 c. $1,550,000. d. $1,500,000

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  1. 13 September, 19:39
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    a. $1,510,000

    Explanation:

    The computation of the total manufacturing costs is shown below:

    = Direct material cost + Direct labor cost + manufacturing overhead cost

    where,

    Direct material cost = Opening inventory + purchase made - ending inventory

    = $200,000 + $500,000 - $240,000

    = $460,000

    And the other items values remain the same

    So, the value would be equal to

    = $460,000 + $500,000 + $550,000

    = $1,510,000

    We assume that the data is given 2018 and 2017
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